Trekor Metals Limited (TKO.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-140.1%

-CA$4.15

vs CA$10.35 price

Levered DCF

-CA$1.43

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

1.87

Grey zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-83.55×	-61.54×	6.64×	-21.83×	20×	-17.68×	-2.86×	-4.06×
P/B	3.23×	1.64×	1.24×	1.59×	2.06×	1.31×	0.51×	0.42×
P/S	3.73×	1.36×	1.02×	1.45×	1.7×	1.21×	0.47×	0.42×
EV / EBITDA	14.33×	8.45×	4.62×	14.42×	5.85×	7.05×	7.67×	4.95×
Gross margin	21.0%	19.3%	39.5%	13.8%	37.8%	6.9%	-11.9%	12.0%
Operating margin	16.1%	12.5%	35.5%	10.2%	33.1%	-0.4%	-17.8%	8.3%
Net margin	-4.5%	-2.2%	15.8%	-6.6%	8.4%	-6.9%	-16.2%	-10.4%
Current ratio	1.5×	1.71×	1.77×	2.14×	3.26×	2×	1.69×	1.82×
Debt / equity	0.95×	1.57×	1.47×	1.65×	1.49×	1.15×	1.24×	1.02×
Interest coverage	1.38×	1.84×	4.42×	1.03×	3.65×	-0.04×	-1.62×	0.83×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.9%	-2.7%	19.1%	-7.3%	10.2%	-7.4%	-17.7%	-10.3%
Return on invested capital	2.9%	-2.8%	8.0%	3.4%	6.7%	-0.1%	-4.4%	3.1%
Return on assets	-1.2%	-0.6%	5.3%	-2.0%	3.1%	-2.6%	-6.0%	-3.7%
Free cash flow yield	-11.2%	18.1%	6.2%	0.3%	11.8%	9.8%	-5.3%	-0.5%
Earnings yield	-1.2%	-1.6%	15.4%	-4.6%	4.9%	-5.7%	-34.7%	-24.6%
Enterprise value	CA$3.1B	CA$1.4B	CA$1.1B	CA$1B	CA$1B	CA$694.2M	CA$474M	CA$455.1M
Net debt / EBITDA	2.58×	3.61×	2.32×	6.5×	1.68×	2.83×	5.18×	3.37×
Cash conversion cycle (days)	74	73	120	78	76	35	35	36